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LendInvest deepens JP Morgan relationship, wins £180m Lloyds Bank partnership

LendInvest's CEO says applications for new mortgages have slowed more recently but listed fintech lender has been able to score new banking partnerships.

a man in a suit

Rod Lockhart/ LendInvest

Property finance fintech LendInvest has struck a new £180m lending partnership with Lloyds Bank and substantially increased an existing deal with JP Morgan to £1bn.

The cash from Lloyds Bank will help LendInvest grow its buy-to-let business. The upsizing of the separate account with JP Morgan follows a £500m investment commitment from the bank in January 2021. 

Both deals continue a theme for the listed fintech lender of high profile deals with banks and asset managers to fund the growth of its loans.

The lender has seen its assets under management soar c.20 per cent in 2022. 

Assets, which represent deployed capital, were c.£2bn in January 2022 but now stand, according to a stock market update today, at c.£2.4bn.

LendInvest grew across all of its lending products in the first half of this year, particularly in buy-to-let, bridging and development, according to Rod Lockhart, its CEO (pictured).

"Looking ahead, we are acutely aware of the disruption in the UK mortgage market, which is affecting confidence and for the moment, applications for new mortgages have slowed across the market,” he said. 

LendInvest has also just opened an office in Glasgow, Scotland as part of its expansion plans, which include a ramping up of its student lets business.

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